Markel International will be opening a new commercial insurance office in Rotterdam this coming September, and will be the firm’s first presence within the Netherlands. The new division of the global insurance specialists is set to be named Markel International Netherlands, following the naming convention of both Markel International France and Markel International Sweden.

Markel International Netherlands is set to be created from a team of more than 20 insurance experts who have years of experience with the Dutch insurance markets in order to help manage and grow the new business. The Rotterdam-based offices will have a particular specialisation in engineering insurance, general liability, directors’ and officers’ insurance, and professional indemnity insurance.

Markel veteran Steve Carroll will be leading the new business in Rotterdam. Mr Carroll’s former responsibilities for Markel included performing as the firm’s UK retail practice divisional managing director, and Mr Carroll had also served as retail business head

William Stovin, chief operating officer for Markel, remarked how the firm was in search of methods to enter new regions and countries. Mr Stovin commented that both the new branch, and the new Dutch business it was sure to bring to its parent company, would result in a great opportunity for the specialist insurer to continue to expand and acquire more market share.

In related professional indemnity insurance news, solicitor firms were warned that, in light of the new Financial Ombudsman Service award cap increase from £100,000 to £150,000, they should review the terms of their cover to ensure they are properly protected.